Home / Browse projects / Thane, Maharashtra / Akshar Business Park- Phase III
Akshar Business Park- Phase III
RG-MH-27884 · RERA P51700024978 · Last updated on MahaRERA portal: 15 Apr 2025
Source: official MahaRERA filing
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Red flags
- Registration lapsed
- Possession 39 months past the filed date
- Completion date moved by 12 months
- 2 extensions taken
Clear
- No litigation declared
- No complaints on record
- Separate project account declared
- Allotment letter follows the model form
4 conditions are on this record. What each one means for someone buying here, and what the promoter's own filed documents say behind it, is what the buyer report adds.
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Akshar Business Park- Phase III is a Commercial project by Akshar Developers in Thane, Maharashtra, registered with MahaRERA as P51700024978 on 17 Mar 2020. Possession was promised by 31 Jul 2023 and is now 39 months past that date. The completion date has moved by 12 months from the original filing.
At a glance
Project
- NameAkshar Business Park- Phase III
- TypeCommercial
- Location
- Sector-25
- Near Turbhe Railway Station
- Navi Mumbai (M Corp.)
- Thane
- 400703
- Pincode400703
- MapView location on Google Maps (as filed on RERA)
- RERA no.P51700024978
- ReraGenie IDRG-MH-27884
Key dates
Key facts
Registration and timeline
- StatusRegistration lapsed
- Registered on17 Mar 2020
- Promised completion31 Jul 2023
- Revised completionRevised to 31 Jul 2023 (originally 31 Jul 2022)
- Buildings6 building records
- Documents filed96 files
Buildings and wings, as sanctioned
| Building | Wing | Floors sanctioned | Habitable floors | Residential units | Other units | Total |
|---|---|---|---|---|---|---|
| Wing W- Block D | NA | 5 | 0 | 0 | 0 | 0 |
| Wing X- Block D | NA | 5 | 0 | 0 | 0 | 0 |
| Wing Y- Block D | NA | 5 | 0 | 0 | 0 | 0 |
| Wing Z- Block D | NA | 5 | 0 | 0 | 0 | 0 |
| Wing Z1- Block D | NA | 5 | 0 | 0 | 0 | 0 |
| Wing Z2- Block D | NA | 5 | 0 | 0 | 0 | 0 |
The full filing
Everything below is from the project's own MahaRERA filing, free to read. The Rs 499 buyer report reads the filed documents themselves and puts the findings in plain language.
Construction progress by building6
As on 15 Apr 2025, the date of the latest filing. The RERA activity checklist for each building, from the promoter's latest quarterly progress filing. These are the promoter's own figures, not an independent inspection.
66 of 66 construction stages are filed complete across 6 buildings.
Wing W- Block D100%
| Activity | Progress |
|---|---|
| Excavation | 100% |
| Basement (if any) | 100% |
| Podiums (if any) | 100% |
| Plinth | 100% |
| Stilt Floor | 100% |
| Slabs of Super Structure | 100% |
| Internal walls, Intemal Plaster, Floorings, Floors and windows within Flats/Premises | 100% |
| Sanitary Fittings within the flats / premises | 100% |
| Staircases, Lifts Wells and Lobbies at each Floor level Overhead and Underground Water Tanks | 100% |
| External plumbing and external plaster, elevation, completion of terraces with waterproofing of the Building / wing. | 100% |
| Installation of Lifts, water pumps, Fire Fighting Fittings and Equipment as per CFO NOC, Electrical fittings, mechanical equipment, compliance to conditions ofenvironment/CRZ NOC, Finishing to entrance lobby/s, plinth protection. paving of areas appurtenant to Building/Wing, Compound Wall and all other requirements as may be required to complete project as per specifications in agreement of Sale. | 100% |
Wing X- Block D100%
| Activity | Progress |
|---|---|
| Excavation | 100% |
| Basement (if any) | 100% |
| Podiums (if any) | 100% |
| Plinth | 100% |
| Stilt Floor | 100% |
| Slabs of Super Structure | 100% |
| Internal walls, Intemal Plaster, Floorings, Floors and windows within Flats/Premises | 100% |
| Sanitary Fittings within the flats / premises | 100% |
| Staircases, Lifts Wells and Lobbies at each Floor level Overhead and Underground Water Tanks | 100% |
| External plumbing and external plaster, elevation, completion of terraces with waterproofing of the Building / wing. | 100% |
| Installation of Lifts, water pumps, Fire Fighting Fittings and Equipment as per CFO NOC, Electrical fittings, mechanical equipment, compliance to conditions ofenvironment/CRZ NOC, Finishing to entrance lobby/s, plinth protection. paving of areas appurtenant to Building/Wing, Compound Wall and all other requirements as may be required to complete project as per specifications in agreement of Sale. | 100% |
Wing Y- Block D100%
| Activity | Progress |
|---|---|
| Excavation | 100% |
| Basement (if any) | 100% |
| Podiums (if any) | 100% |
| Plinth | 100% |
| Stilt Floor | 100% |
| Slabs of Super Structure | 100% |
| Internal walls, Intemal Plaster, Floorings, Floors and windows within Flats/Premises | 100% |
| Sanitary Fittings within the flats / premises | 100% |
| Staircases, Lifts Wells and Lobbies at each Floor level Overhead and Underground Water Tanks | 100% |
| External plumbing and external plaster, elevation, completion of terraces with waterproofing of the Building / wing. | 100% |
| Installation of Lifts, water pumps, Fire Fighting Fittings and Equipment as per CFO NOC, Electrical fittings, mechanical equipment, compliance to conditions ofenvironment/CRZ NOC, Finishing to entrance lobby/s, plinth protection. paving of areas appurtenant to Building/Wing, Compound Wall and all other requirements as may be required to complete project as per specifications in agreement of Sale. | 100% |
Wing Z- Block D100%
| Activity | Progress |
|---|---|
| Excavation | 100% |
| Basement (if any) | 100% |
| Podiums (if any) | 100% |
| Plinth | 100% |
| Stilt Floor | 100% |
| Slabs of Super Structure | 100% |
| Internal walls, Intemal Plaster, Floorings, Floors and windows within Flats/Premises | 100% |
| Sanitary Fittings within the flats / premises | 100% |
| Staircases, Lifts Wells and Lobbies at each Floor level Overhead and Underground Water Tanks | 100% |
| External plumbing and external plaster, elevation, completion of terraces with waterproofing of the Building / wing. | 100% |
| Installation of Lifts, water pumps, Fire Fighting Fittings and Equipment as per CFO NOC, Electrical fittings, mechanical equipment, compliance to conditions ofenvironment/CRZ NOC, Finishing to entrance lobby/s, plinth protection. paving of areas appurtenant to Building/Wing, Compound Wall and all other requirements as may be required to complete project as per specifications in agreement of Sale. | 100% |
Wing Z1- Block D100%
| Activity | Progress |
|---|---|
| Excavation | 100% |
| Basement (if any) | 100% |
| Podiums (if any) | 100% |
| Plinth | 100% |
| Stilt Floor | 100% |
| Slabs of Super Structure | 100% |
| Internal walls, Intemal Plaster, Floorings, Floors and windows within Flats/Premises | 100% |
| Sanitary Fittings within the flats / premises | 100% |
| Staircases, Lifts Wells and Lobbies at each Floor level Overhead and Underground Water Tanks | 100% |
| External plumbing and external plaster, elevation, completion of terraces with waterproofing of the Building / wing. | 100% |
| Installation of Lifts, water pumps, Fire Fighting Fittings and Equipment as per CFO NOC, Electrical fittings, mechanical equipment, compliance to conditions ofenvironment/CRZ NOC, Finishing to entrance lobby/s, plinth protection. paving of areas appurtenant to Building/Wing, Compound Wall and all other requirements as may be required to complete project as per specifications in agreement of Sale. | 100% |
Wing Z2- Block D100%
| Activity | Progress |
|---|---|
| Excavation | 100% |
| Basement (if any) | 100% |
| Podiums (if any) | 100% |
| Plinth | 100% |
| Stilt Floor | 100% |
| Slabs of Super Structure | 100% |
| Internal walls, Intemal Plaster, Floorings, Floors and windows within Flats/Premises | 100% |
| Sanitary Fittings within the flats / premises | 100% |
| Staircases, Lifts Wells and Lobbies at each Floor level Overhead and Underground Water Tanks | 100% |
| External plumbing and external plaster, elevation, completion of terraces with waterproofing of the Building / wing. | 100% |
| Installation of Lifts, water pumps, Fire Fighting Fittings and Equipment as per CFO NOC, Electrical fittings, mechanical equipment, compliance to conditions ofenvironment/CRZ NOC, Finishing to entrance lobby/s, plinth protection. paving of areas appurtenant to Building/Wing, Compound Wall and all other requirements as may be required to complete project as per specifications in agreement of Sale. | 100% |
Progress on shared amenities15
As on 15 Apr 2025, the date of the latest filing. Lifts, roads, water and the other shared works, from the same quarterly filing, and reported by the promoter rather than inspected.
| Common facility | Proposed | Progress |
|---|---|---|
| Internal Roads & Footpaths | Yes | 100% |
| Water Supply | Yes | 100% |
| Sewerage (Chamber, Lines, Septic Tank , STP) | Yes | 100% |
| Storm Water Drains | Yes | 100% |
| Landscaping & Tree Planting | Yes | 100% |
| Street Lighting | Yes | 100% |
| Community Buildings | No | Not applicable |
| Treatment And Disposal Of Sewage And Sullage Water | No | Not applicable |
| Solid Waste Management And Disposal | No | Not applicable |
| Water conservation /Rain water harvesting | Yes | 100% |
| Energy managemcnt | Yes | 100% |
| Fire protection and fire safety requirements | Yes | 100% |
| Electrical meter room, sub-station, receiving station | Yes | 100% |
| Aggregate area of recreational Open Space | Yes | 100% |
| Open Parking | Yes | 100% |
Land and ownership
MahaRERA has published no encumbrance declaration for this project. That is silence on the question, and not a record of clear land.
Approvals and building plan
Project account and cost
70 percent of buyer money must sit in the project account. Account numbers are not published by MahaRERA, so check that your agreement for sale names a designated account for this project and pay into that account only.
Certifying professionals and partners
Form 1, 2 and 3 certificates from these professionals release the promoter's withdrawals from the 70 percent account.
| Partner | Role in project |
|---|---|
| Akshar Developers | - |
Extensions applied for2
A revised date filed with the regulator does not change the possession date in your agreement for sale.
Reason as filed by the promoterDue to the current COVID 19 pandemic situation we are unable to complete the Project in all respects by 31.01.2023 as mentioned in RERA. We, thus, request you to kindly take the above on record and grant us extension till 31/07/2023 and oblige.
Reason as filed by the promoterWe would like to apply for Time Extension of the Project Akshar Business Park-Phase III. Due to the current COVID 19 pandemic situation we are unable to complete the Project in all respects by 31.07.2022 as mentioned in RERA. We, thus, request you to kindly take the above on record and grant us extension till 31.01.2023 and oblige.
Complaints filed with MahaRERA
No complaints on record against this registration.
The permission chain
The permissions a project needs, in the order they happen, matched to MahaRERA's own document slots. A slot on the file means the promoter uploaded a document there; it is not proof the permission was granted, and the filing carries no issue dates. An empty slot is not proof an approval is missing.
- Legal title reportOn the file
A lawyer's report on who owns the land and what is registered against it.
uploaded 29 Jan 2020 - Layout approvalOn the file
The planning authority's approval of how the plots and buildings sit on the land.
uploaded 12 Mar 2020 - Building plan approvalOn the file
Sanction of the building plans themselves, filed as an IOD in Mumbai and as a plan approval elsewhere.
uploaded 12 Mar 2020 - Commencement CertificateOn the file
Permission to begin construction. On a plotted development the same slot carries the NA order instead.
uploaded 29 Jan 2020Confirm the Commencement Certificate covers the specific floor you are buying. - Occupancy CertificateOn the file
The legal go-ahead to move in. It comes at the end, so its absence on a project still under construction is expected.
uploaded 27 Mar 2025
Documents filed96
As listed on the registration, named by the MahaRERA slot each file was filed under, with the promoter's own file name beneath; the newest 80 of 96 are shown. The files themselves are available at source: open this registration on the MahaRERA portal. We publish what the filing says and never host the promoter's documents in place of it.
| Document | Uploaded |
|---|---|
| CA Certificate on Project Cost & Fund withdrawal (Form 3)File: Form 3 - ABP III as on Sep 2024.pdf | 15 Apr 2025 |
| CA Certificate on Project Cost & Fund withdrawal (Form 3)File: Form 3 - ABP III as on Dec 2024.pdf | 15 Apr 2025 |
| CA Certificate on Project Cost & Fund withdrawal (Form 3)File: Form 3 of Akshar Business Park- Phase III as on 30th June 2024.pdf | 15 Apr 2025 |
| Engineer’s Certificate on Cost Incurred on Project (Form 2)File: Form 2 - ABP III as on June 2024.pdf | 15 Apr 2025 |
| Engineer’s Certificate on Cost Incurred on Project (Form 2)File: Form 2 - ABP III as on Sep 2024.pdf | 29 Mar 2025 |
| Engineer’s Certificate on Cost Incurred on Project (Form 2)File: Form 2 - ABP III as on Dec 2024.pdf | 29 Mar 2025 |
| Occupancy Certificate/ Completion Certificate/ Architect's certificate of completion for plotted developmentFile: ilovepdf_merged (51).pdf | 27 Mar 2025 |
| Architect’s Certificate on Completion of Project (Form 4)File: Form 4 Dimensions ABP Akshar Developers.pdf | 5 Dec 2024 |
| Occupancy Certificate/ Completion Certificate/ Architect's certificate of completion for plotted developmentFile: 1 Occupancy Certificate_ Completion Certificate_ Architect's certificate of completion for | 5 Dec 2024 |
| Architect’s Certificate on Completion of Project (Form 4)File: organized (51).pdf | 30 Nov 2024 |
| Occupancy Certificate/ Completion Certificate/ Architect's certificate of completion for plotted developmentFile: oc 2.pdf | 28 Nov 2024 |
| Annual Audit Report of Statutory CA (Form 5) (FY 2023-24)File: Form 5 Akshar Business Park Phase III FY 2023-24.pdf | 25 Nov 2024 |
| Engineer’s Certificate on Cost Incurred on Project (Form 2)File: Form 2 - ABP III as on Dec 2023.pdf | 15 Oct 2024 |
| Engineer’s Certificate on Cost Incurred on Project (Form 2)File: Form 2 - ABP III as on March 2024.pdf | 15 Oct 2024 |
| Engineer’s Certificate on Cost Incurred on Project (Form 2)File: Form 2 - ABP III as on June 2024.pdf | 15 Oct 2024 |
| CA Certificate on Project Cost & Fund withdrawal (Form 3)File: Form 3 of Akshar Business Park- Phase III as on 31st Dec 2023 (1).pdf | 11 Oct 2024 |
| CA Certificate on Project Cost & Fund withdrawal (Form 3)File: Form 3 of Akshar Business Park- Phase III as on 31st March 2024.pdf | 11 Oct 2024 |
| CA Certificate on Project Cost & Fund withdrawal (Form 3)File: Form 3 of Akshar Business Park- Phase III as on 30th June 2024.pdf | 11 Oct 2024 |
| Architect’s Certificate of Percentage of Completion of Work (Form 1)File: 2 Architect’s Certificate of Percentage of Completion of Work (Form 1).pdf | 20 Jul 2024 |
| Engineer’s Certificate on Cost Incurred on Project (Form 2)File: 17 Engineer’s Certificate on Cost Incurred on Project (Form 2).pdf | 20 Jul 2024 |
| CA Certificate on Project Cost & Fund withdrawal (Form 3)File: 17 CA Certificate on Project Cost Fund withdrawal (Form 3).pdf | 20 Jul 2024 |
| Engineer’s Certificate on Cost Incurred on Project (Form 2)File: Form 2 - ABP III as on June 2020.pdf | 18 Jun 2024 |
| Engineer’s Certificate on Cost Incurred on Project (Form 2)File: Form 2 - ABP III as on Sept 2020.pdf | 18 Jun 2024 |
| Engineer’s Certificate on Cost Incurred on Project (Form 2)File: Form 2 - ABP III as on Dec 2020.pdf | 18 Jun 2024 |
| Engineer’s Certificate on Cost Incurred on Project (Form 2)File: Form 2 - ABP III as on March 2021.pdf | 18 Jun 2024 |
| Engineer’s Certificate on Cost Incurred on Project (Form 2)File: Form 2 - ABP III as on June 2021.pdf | 18 Jun 2024 |
| Engineer’s Certificate on Cost Incurred on Project (Form 2)File: Form 2 - ABP III as on Sept 2021.pdf | 18 Jun 2024 |
| Engineer’s Certificate on Cost Incurred on Project (Form 2)File: Form 2 - ABP III as on Dec 2021.pdf | 18 Jun 2024 |
| Engineer’s Certificate on Cost Incurred on Project (Form 2)File: Form 2 - ABP III as on March 2022.pdf | 18 Jun 2024 |
| Engineer’s Certificate on Cost Incurred on Project (Form 2)File: Form 2 - ABP III as on Sept 2022.pdf | 18 Jun 2024 |
| Engineer’s Certificate on Cost Incurred on Project (Form 2)File: Form 2 - ABP III as on Dec 2022.pdf | 18 Jun 2024 |
| Engineer’s Certificate on Cost Incurred on Project (Form 2)File: Form 2 - ABP III as on March 2023.pdf | 18 Jun 2024 |
| Engineer’s Certificate on Cost Incurred on Project (Form 2)File: Form 2 - ABP III as on June 2023.pdf | 18 Jun 2024 |
| Engineer’s Certificate on Cost Incurred on Project (Form 2)File: Form 2 - ABP III as on Sept 2023.pdf | 18 Jun 2024 |
| CA Certificate on Project Cost & Fund withdrawal (Form 3)File: Form 3 - ABP as on 31-03-2020.pdf | 18 Jun 2024 |
| CA Certificate on Project Cost & Fund withdrawal (Form 3)File: Form 3 - ABP as on 30-06-2020.pdf | 18 Jun 2024 |
| CA Certificate on Project Cost & Fund withdrawal (Form 3)File: Form 3 - ABP as on 30-09-2020.pdf | 18 Jun 2024 |
| CA Certificate on Project Cost & Fund withdrawal (Form 3)File: Form 3 - ABP as on 31-12-2020.pdf | 18 Jun 2024 |
| CA Certificate on Project Cost & Fund withdrawal (Form 3)File: Form 3 - ABP as on 30-06-2021.pdf | 18 Jun 2024 |
| CA Certificate on Project Cost & Fund withdrawal (Form 3)File: Form 3 - ABP as on 30-09-2021.pdf | 18 Jun 2024 |
| CA Certificate on Project Cost & Fund withdrawal (Form 3)File: Form 3 - ABP as on 31-12-2021.pdf | 18 Jun 2024 |
| CA Certificate on Project Cost & Fund withdrawal (Form 3)File: Form 3 - ABP as on 31-03-2022.pdf | 18 Jun 2024 |
| CA Certificate on Project Cost & Fund withdrawal (Form 3)File: Form 3 - ABP as on 31-09-2022.pdf | 18 Jun 2024 |
| CA Certificate on Project Cost & Fund withdrawal (Form 3)File: Form 3 - ABP as on 31-12-2022.pdf | 18 Jun 2024 |
| CA Certificate on Project Cost & Fund withdrawal (Form 3)File: Form 3 - ABP as on 31-03-2023.pdf | 18 Jun 2024 |
| CA Certificate on Project Cost & Fund withdrawal (Form 3)File: Form 3 - ABP as on 31-06-2023.pdf | 18 Jun 2024 |
| CA Certificate on Project Cost & Fund withdrawal (Form 3)File: Form 3 - ABP as on 30-09-2023.pdf | 18 Jun 2024 |
| Annual Audit Report of Statutory CA (Form 5) (FY 2019-20)File: Form 5 for FY 2019-20.pdf | 18 Jun 2024 |
| Annual Audit Report of Statutory CA (Form 5) (FY 2022-23)File: Form 5-Akshar Business Park Phase III_FY 2022-23.pdf | 18 Jun 2024 |
| Engineer’s Certificate on Cost Incurred on Project (Form 2)File: Form 2 - ABP III as on June 2020.pdf | 15 Jun 2024 |
| Occupancy Certificate/ Completion Certificate/ Architect's certificate of completion for plotted developmentFile: PHASE 3 akshar turbhe part OC.pdf | 5 Sep 2023 |
| Declaration about Commencement CertificateFile: DECLARATION FOR COMMENCEMET CERTIFICATE 02-02-2023.pdf | 14 Feb 2023 |
| Engineers Certificate on Quality Assurance (Form 2A FY 2021-22)File: ENGINEER QUALITY ASSURANCE CERTIFICATE 02-02-2023.pdf | 14 Feb 2023 |
| CERSAI detailsFile: CERSAI DETAILS.pdf | 14 Feb 2023 |
| Annual Audit Report of Statutory CA (Form 5) (FY 2021-22)File: form 5 march 22.pdf | 3 Feb 2023 |
| Proforma of Agreement for saleFile: AGREEMENT- PHASE III 11-10-2022.pdf | 5 Dec 2022 |
| Details of encumbrancesFile: ENCUMBRANCES CERTIFICATE.pdf | 11 Oct 2022 |
| Engineer’s Certificate on Cost Incurred on Project (Form 2)File: ENGINEER CERTIFICATE AKSHAR BUSINESS PARK PHASE III-31-03-2020.pdf | 5 Aug 2022 |
| CA Certificate on Project Cost & Fund withdrawal (Form 3)File: RERA -DECORIUM PHASE 3.pdf | 5 Aug 2022 |
| Annual Audit Report of Statutory CA (Form 5) (FY 2020-21)File: form 5.pdf | 5 Aug 2022 |
| CA Certificate on Project Cost & Fund withdrawal (Form 3)File: form 3_compressed.pdf | 4 Aug 2022 |
| Declaration about Commencement CertificateFile: DECLARATION FOR COMMENCEMET CERTIFICATE 01-08-2022.pdf | 3 Aug 2022 |
| Engineers Certificate on Quality Assurance (Form 2A FY 2020-21)File: ENGINEER QUALITY ASSURANCE CERTIFICATE 01-08-2022.pdf | 3 Aug 2022 |
| CERSAI detailsFile: CERSAI DETAILS.pdf | 3 Aug 2022 |
| Disclosure of sold/ booked inventoryFile: ABP PHASE III SOLD-BOOKED LETTER.pdf | 3 Aug 2022 |
| Architect’s Certificate of Percentage of Completion of Work (Form 1)File: Architech certificate.pdf | 2 Aug 2022 |
| Engineer’s Certificate on Cost Incurred on Project (Form 2)File: Engg Certificate.pdf | 2 Aug 2022 |
| CA Certificate on Project Cost & Fund withdrawal (Form 3)File: form 3 with annexure.pdf | 2 Aug 2022 |
| Building plan approvalFile: 1 CC (1).pdf | 12 Mar 2020 |
| Building plan approvalFile: 2 CC.pdf | 12 Mar 2020 |
| Building plan approvalFile: 3 CC.pdf | 12 Mar 2020 |
| Building plan approvalFile: 4 CC.pdf | 12 Mar 2020 |
| Building plan approvalFile: 5 CC.pdf | 12 Mar 2020 |
| Building plan approvalFile: 6 CC.pdf | 12 Mar 2020 |
| Layout approvalFile: Layout- ABP III.pdf | 12 Mar 2020 |
| Details of encumbrancesFile: Encumbrance Cerificate.pdf | 12 Mar 2020 |
| Copy of Layout Approval (in case of layout)File: Layout- ABP III.pdf | 12 Mar 2020 |
| Building Plan Approval / NA Order for plotted developmentFile: 1 CC (1).pdf | 12 Mar 2020 |
| Building Plan Approval / NA Order for plotted developmentFile: 2 CC.pdf | 12 Mar 2020 |
| Building Plan Approval / NA Order for plotted developmentFile: 3 CC.pdf | 12 Mar 2020 |
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Builder: Akshar Developers
Akshar Developers has 5 registrations on MahaRERA, including Nirmal Arcade and Akshar Business Park- Phase I. Its filings disclose 1 earlier MahaRERA project: declares 1 of 1 past projects completed on time. Read the full track record. See more projects on the Thane district page.
Frequently asked questions
What does it mean that Akshar Business Park- Phase III shows as registration lapsed on MahaRERA?
A registration runs until the completion date the promoter declared. If the project is neither completed nor extended by then it lapses, and a de-registration or revocation ends it by order. In every case the promoter may no longer legally advertise, market or sell in the project, and the Authority can act under section 7 against a defaulting promoter. What it does not do is cancel an agreement for sale you have already signed, or extinguish your section 18 right to delay interest or refund; those run from your agreement, not from the registration. Get the current position from the promoter in writing, verify it on the MahaRERA portal, and take legal advice before paying any further instalment.
What are my rights if Akshar Business Park- Phase III is delayed beyond 31 Jul 2023?
Under section 18 of the RERA Act you may stay in the project and claim interest for every month of delay, or exit and claim a full refund with interest. In Maharashtra the rate is SBI's highest MCLR plus 2 percent, currently 10.90% per annum (June 2026). The free delay interest calculator on ReraGenie puts a rupee figure on any delay. Claims are filed as MahaRERA complaints with a Rs 5,000 fee.
How do I verify and contact the developer of Akshar Business Park- Phase III?
The registered promoter entity is Akshar Developers, a partnership as per the filing. Neither this filing nor this promoter's other MahaRERA registrations disclose a CIN, LLPIN or GSTIN for this entity. Your agreement for sale must name this exact entity, not a group brand name. The promoter's registered address and contact details are on the project's MahaRERA listing (scan the QR code on any advertisement) and in its filed documents. The Rs 499 buyer report includes all of them as a single ZIP, foldered by type.
Is my payment protected in Akshar Business Park- Phase III?
Partly, by law. 70 percent of every buyer payment must go into the project's designated bank account, withdrawable only against architect, engineer and CA certificates as construction progresses; since July 2024 MahaRERA requires a three-account structure for collections. Separately, a promoter cannot take more than 10 percent of the price before signing a registered agreement for sale (section 13). Neither rule guarantees completion; they limit how far your money can travel from the project.
How current is the construction progress shown for Akshar Business Park- Phase III?
Promoters must file a quarterly progress report within 20 days of each quarter end, certified by the architect (Form 1), engineer (Form 2) and chartered accountant (Form 3). The figures above come from the latest filing, so they can trail the site by up to a quarter. A promoter who stops filing QPRs altogether invites penalties under section 61, and a stale filing date is itself a warning sign worth checking on the portal.
What should I check before booking in Akshar Business Park- Phase III?
Four things this page cannot decide for you: that the carpet area in your agreement matches the filed carpet area (the model agreement allows only a 3 percent variation, with a refund right below that); that the agreement follows MahaRERA's model clauses with deviations highlighted; the promoter's record on their other projects, not just this one; why the completion date was revised and what the new timeline depends on. The Rs 499 buyer report works through all of them from the filings.
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